27 Jan 2014
Flash: Sell AUD rallies as near term bias - Westpac
FXstreet.com (Bali) - The near term bias will remain to sell AUD and NZD rallies, notes Jonathan Cavenagh, FX Strategist at Westpac.
Key Quotes
"Regional equity market sentiment is likely to be quite poor following the offshore leads from Friday (already the Kospi is down close to 2%)."
"Friday's low of 0.8660 will be watched in AUD, while selling interest will emerge on moves towards the 0.8720/30 level (which is the bottom of the downtrend channel that has been in place for a number of years)."
Key Quotes
"Regional equity market sentiment is likely to be quite poor following the offshore leads from Friday (already the Kospi is down close to 2%)."
"Friday's low of 0.8660 will be watched in AUD, while selling interest will emerge on moves towards the 0.8720/30 level (which is the bottom of the downtrend channel that has been in place for a number of years)."